Minutes EDC 4B 11/13/2006MINUTES OF REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 4B
TOWN OF TROPHY CLUB
November 13, 2006
6:30 P.M.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of -the Town of Trophy Club, Texas, met in
a Regular Session on November 13, 2006. The meeting was held within the boundaries
of the Town and was open to the public.
DIRECTORS PRESENT:
James Hicks
Doyle Nicholson (left at 7:10 p.m.)
Damian Olthoff
Larry E. Crosser
Cy Holley
Rebecca Shuman
Philip Sterling
STAFF AND GUEST(S) PRESENT:
Brandon Emmons
Beth Ann Gregory
Shannon DePrater
Sakura Moten-Dedrick
Greg Lamont
Pam Cates
Joe Fackel
Neil Twomey
Leland Wilhelm
Dwight Morrow
President
Vice -President
Secretary
Director
Director
Director
Director - Council Liaison
Town Manager
Community Development Director
Recording Secretary
Finance Director
Council Member
Council Member
The Buxton Company
MUD 2 Director - EDC 4A Director
EDC 4A Director
EDC 4A Director
WORKSHOP SESSION
Call to order and announce a quorum.
President Hicks, noting a quorum, called the workshop to order at 6:35 p.m.
Presentation and discussion of Buxton Company presentation on Economic
Development:
Joe Fackel presented his company, The Buxton Company, to the Board. Questions
and discussion ensued. Mr. Fackel stated the proposal of services is $70,000. If a
contract can be reached before December 31, 2006, $10,000 will be deducted.
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Consensus of the Board included staff to schedule a meeting of all commercially owned
landowners for the next regularly scheduled EDC 4B meeting on December 11, 2006.
Staff directed Beth Ann Gregory to initiate invitations to the landowners and to invite Mr.
Fackel to return for a question and answer session. She was also directed to ask Mr.
Fackel to invite Bob Bolin to attend as well.
Adjourn workshop session.
President Hicks adjourned the workshop at 7:44 p.m.
The Economic Development Board took a ten minute recess.
REGULAR SESSION
Call to order and announce a quorum.
President Hicks, noting a quorum, called the meeting to order at 7:55 p.m.
Discuss and take appropriate action on the presentation and proposal presented
by the Buxton Company.
No further discussion.
Open Public Hearing:
President Hicks opened the Public Hearing. No presentations were made.
Close Public Hearing until December 11, 2006.
President Hicks closed the Public Hearing until December 11, 2006.
Discuss and make recommendations on the development of a tax abatement
schedule with defined criteria.
Brandon Emmons presented this item to the Board and asked the Board for their
recommendations to take to the Town Council.
The Board made the following recommendations:
• Continue for five years only
• Never to reach 100 percent
• Make schedule easy to understand
• Gear toward retail
Brandon Emmons stated that the staff will have a proposal for the Board to review at
their next meeting.
Presentation and discussion of Sales Tax Confidential Information Report.
(Sakura Moten-Dedrick, Finance Director)
Sakura Moten-Dedrick presented the Sales Tax Confidential Information Report to the
Board. Discussion and questions ensued. The Board asked Sakura Moten-Dedrick to:
1. Research the businesses by the 76262 zip code to verify sales tax being
allocated properly to the Town.
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November 13, 2006 Minutes
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2. Utilize the Sales Tax Confidential Information Report for a break down by SIC
Code (which is now known as NAISC) to note types of businesses and further
use as a starting point to build knowledge of what kinds of retail is needed in
Trophy Club.
3. Conduct a Sales Tax to Property Tax break even analysis.
Discuss and take appropriate action regarding removing Roger Unger and adding
Sakura Moten-Dedrick to new signature cards at First Financial Bank and
Texpool.
Director Crosser made a motion to approve removing Roger Unger and adding Sakura
Moten-Dedrick to new signature cards at First Financial Bank and Texpool. Director
Holley seconded; motion carried unanimously.
Staff Updates:
a. 'rML Update
Beth Ann Gregory updated the Board on the TIVIL Conference that Staff attended
October 25 — 27, 2006.
b. Economic Development Initiatives
Beth Ann updated the Board on the Economic Development Initiatives, including plans
for the new website, TrophyClubBiz.com, presentation materials directed toward
retailers and articles for the newsletter regarding how important sales tax dollars are to
the Town.
Discuss and take action regarding strategic planning:
This item has been tabled until the January 2007 meeting.
Project(s) updates/status and action items; funding requests:
The Board asked that staff include Updates of Regional Development to the agendas.
Approval of October 9, 2006 meeting minutes:
The Board discussed adding more information to the minutes to help Staff and Board
Directors make sure they have their follow-up iterns complete for the. next meeting.
Staff will send the drafted minutes to the Board for review after they have been typed.
Director Shuman made a motion to approve the minutes as amended. Director Olthoff
seconded; motion carried unanimously.
Amendments included:
• Correct spelling of Philip Sterling's name
• Correct EDC 48 To EDC 4B
• Correct Vide President to Vice President
• Remove Discussion ensued from the Strategic Planning item
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November 13, 2006 Minutes
Page 2 of 4
Approval of September Financials:
Director Crosser presented the financials to the Board. Director Holley made a motion to
approve the September Financials as presented. Director Shuman seconded; motion
carried unanimously.
Other business.
Directors discussed ways to get individuals to the current retail shops. Director Olthoff
expressed concern about the lunch crowd parking. Beth Ann Gregory stated she would
try to contact Maguire Thomas Partners about the possibility of adding Trophy Club
restaurants to the shuttle bus route.
President Hicks stated the Mayor recommended that EDC 4B attend Economic
Development classes. Adding training as a line item to the FY 2007-2008 budget was
discussed. No action taken.
a. Open Meetings Training
Shannon DePrater asked how many Board members have watched the Open Meeting
Training. The majority has watched the training, many need to complete the certificate.
Shannon DePrater will forward certificates to the board to complete and return.
b. Next Meeting Scheduled for December 11, 2006 at 6:30 p.m.
President Hicks stated the next meeting is scheduled for December 11, 2006 at 6:30
p.m.
Adjourn regular session.
Director Holley made a motion to adjourn at 9:30 p.m. Director Crosser seconded;
motion carried unanimously.
4L-r-�
Jim Micks
Damian Olthoff